Magic Charitable Foundation
- Assets
- $948.4k
- Revenue
- $201.4k
- Investments
- $859.6k
- Employees
- 0
- Location
- Mettawa, IL
- Founding
- 06/2013
- Data as of
- 12/2023
- EIN
- 27-4375952
Organization Overview
Magic Charitable Foundation is located in Mettawa, IL. The organization was established in 2013. According to its NTEE Classification (T21) the organization is classified as: Corporate Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Magic Charitable Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Magic Charitable Foundation generated $201.4k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 53.7% each year . All expenses for the organization totaled $113.3k during the year ending 12/2023. While expenses have increased by 2.2% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Magic Charitable Foundation has awarded 65 individual grants totaling $472,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Monica Nicholas President | 0 | $0 | |
Michael J Nicholas Treasurer | 0 | $0 | |
David M Nicholas Secretary | 0 | $0 | |
Erin L Trella Director | 0 | $0 | |
Kelly C Luby Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $15 |
| Interest on Savings | $474 |
| Dividends & Interest | $24,947 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $173,948 |
| Capital Gain Net Income | $173,948 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,984 |
| Total Revenue | $201,368 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $456 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $15 |
| Total operating and administrative expenses | $13,279 |
| Contributions, gifts, grants paid | $100,000 |
| Total expenses and disbursements | $113,279 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $88,864 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $948,444 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Magic Charitable Foundation has awarded $100,000 in support to 30 organizations.
| Grant Recipient | Amount |
|---|---|
ST JUDE CHILDREN'S RESEARCH HOSPITA PURPOSE: TO ADVANCE CURES, AND MEANS OF PREVENTION, FOR PEDIATRIC CATASTROPHIC DISEASES THROUGH RESEARCH AND TREATMENT. | $2,500 |
HABITAT FOR HUMANITY INTERNATIONAL PURPOSE: TO BRING PEOPLE TOGETHER TO BUILD HOMES, COMMUNITIES AND HOPE THROUGH DECENT AND AFFORDABLE HOUSING. | $5,000 |
ST JOAN OF ARC CATHOLIC SCHOOL PURPOSE: TO PROVIDE STUDENTS A FIRM FOUNDATION IN THE CATHOLIC FAITH, THEREBY CREATING THE OPPORTUNITY AND THE MEANS TO ACHIEVE ACADEMIC EXCELLENCE. | $10,000 |
THE WATER PROJECT PURPOSE: TO PROVIDE RELIABLE WATER PROJECTS TO COMMUNITIES IN SUB-SAHARAN AFRICA WHO SUFFER FROM A LACK OF ACCESS TO CLEAN WATER AND PROPER SANITATION. | $2,500 |
ST FRANCIS DE SALES CATHOLIC SCHOOL PURPOSE: TO PROMOTE EDUCATIONAL EXCELLENCE IN A CATHOLIC ENVIRONMENT AND OFFER OPPORTUNITIES FOR STUDENTS TO ATTAIN THEIR FULL POTENTIAL. | $2,500 |
CARMEL CATHOLIC HIGH SCHOOL PURPOSE: TO EMPOWER STUDENTS TO BE SERVANT LEADERS FILLED WITH ZEAL FOR FAITH AND SCHOLARSHIP. | $2,500 |